THE NORTH BRITISH DISTILLERY COMPANY LIMITED
Company number: SC001491
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
5 July 2018
Approved by:
Alan Kilpatrick
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 42%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
11 days
Longest standard payment period
60 days
Standard payment terms
We use a 4 payment run (monthly) structure through our automated Purchase Ledger, plus "Faster" or "BACS" payments for instant remittances.
1. "Immediate" - Within 11 days of receiving an invoice.
2. 11th of month following invoice date.
3. 21st of month following invoice date.
4. 31st of month following invoice date (1st of following month if a 30 day month - differing for February)
The "Shortest" terms can be paid quicker than 11 days depending on when the document comes in compared to our payment run date. The "Longest" terms can be 60 days, but only in extreme cases (eg. if an invoice arrives on 1st of a month and is paid 31st of the following month - this rarely happens)
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If there is a problem relating to an invoice, we contact the supplier, let them know the details, and suggest a solution to the problem. (eg. goods not delivered, faulty workmanship etc.) We don't complete this process until an agreed plan of action is in force, so both parties know what is to happen to allow timeous payment.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No